Qatari telco will use loan facility to help finance general business operations

Qatar Telecom (QTel) is on the verge of securing a $1bn loan facility to finance general operations, Reuters reported today.

Citing three banking sources, the news agency said more than a dozen banks have pledged backing for the loan, which has a margin below 100 basis points. The sources said the deal was undergoing documentation and would be signed once all lenders had completed the process.